EconPapers    
Economics at your fingertips  
 

A experiência internacional de regimes de metas de inflação: uma análise com painel dinâmico [International experience in inflation targeting regimes: an analysis with a dynamic panel]

Marcos Rocha and José Luís Oreiro ()

Nova Economia, 2008, vol. 18, issue 2, 267-291

Abstract: This paper uses a growth model with dynamic panel techniques in order to investigate how (and if) the institutional architecture of inflation targeting regimes affects the growth performance of the countries that adopt this kind of monetary policy. The sample used to build the panel consists of 23 countries that officially adopted the inflation targeting regime. The Arellano and Bond (1991) methodology is used to estimate the parameters of the dynamic growth model. The results support the view that the adoption of headline inflation indices, since it is a index of strong credibility; the definition of a convergence horizon for target inflation larger than a year; and the capability of central banks to achieve the target inflation have positive and important effects over growth performance of selected countries.

Keywords: dynamic panels; inflation targeting; monetary policies (search for similar items in EconPapers)
JEL-codes: C23 F31 F33 (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.scielo.br/scielo.php?script=sci_pdf&pid ... g=pt&nrm=iso&tlng=pt (application/pdf)
http://www.scielo.br/scielo.php?script=sci_arttext ... g=pt&nrm=iso&tlng=pt (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nov:artigo:v:18:y:2008:i:2:p:267-291

Ordering information: This journal article can be ordered from
Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
https://revistas.fac ... dex.php/novaeconomia

Access Statistics for this article

Nova Economia is currently edited by Gustavo de Britto Rocha

More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil) Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Lucas Resende de Carvalho ().

 
Page updated 2022-09-21
Handle: RePEc:nov:artigo:v:18:y:2008:i:2:p:267-291